Business Connexion posts interim growth

IT outsourcing company, Business Connexion has reported an 8% rise in revenue for the six months ended February 2013, to R2.9 billion, bolstered by good growth from most divisions.

Operating profit increased by 10.9% to R145.1 million, while return on equity came in at 7.5% (2012: 8.0%) on the back of improved profitability.

Business Connexion recoded diluted headline earnings per share of 19 cents, from 22.1 cents in 2012.

The group said its services division’s revenue grew by 3.4% for the six months to R981.9 million, compared to R949.7 million for the previous six months.

“The growth in revenue is a consequence of the division’s application development business which is developing innovative and fit for purpose services and solutions for clients. The professional services business also showed good growth particularly in the public sector.”

The technology division continued to generate positive results and contributed R13.1 million to operating profit for the period, this from a loss of R7.7 million before.

The innovation division’s revenue was flat at R244.1 million but the division increased its contribution to operating profit by 9.3%.

“All business units within the innovation division have performed according to expectations,” Business Connexion said.

Revenue in the international division grew 12.1% to R239.8 million continuing to demonstrate the potential in Africa.

Looking ahead, Business Connexion said it continues to benefit from its expanded client base and cross-selling opportunities from its recent acquisitions.

The group noted that its African footprint is growing with the launch of its cloud services in Nigeria as well as a growing presence in all other African countries.

More on Business Connexion

BCX wins big in public sector

Business Connexion completes Intergr8 IT buy

Business Connexion rewards shareholders

BCX expects full-year earnings boost

Business Connexion issues cautionary warning

Business Connexion to target African growth

Business Connexion lifts revenue by 43.5%

Must Read

Partner Content

Show comments

Trending Now

Follow Us

Business Connexion posts interim growth